Most people are aware of the need to use a will to leave property to their loved ones after death. You may believe that having several intentions can give your loved ones more explicit instructions and stronger protections for them after you pass away because having a will protects them. However, having many choices can lead to issues you weren’t expecting. Let’s look at some of the justifications for a person’s many wills and then talk about how they might influence your estate planning attorney.
Why Are There Multiple Wills in estate planning Attorneys?
There are several reasons why having multiple wills might be a good idea. The common causes for considering multiple choices are listed below.
To Deal with Property in Various Places
In a will, the property in the state where it is written is addressed. It designates a personal representative carrying out the will’s instructions. The personal representative initiates a probate proceeding in the state and county where you resided at the time of your death. In the state where you have an additional property, your representative might also be required to start a different probate case.
Ancillary probate is what this is, and it is an addition to the primary probate case. This is due to the idea of the jurisdiction in law. The court must be empowered to handle the matters before it. Only property within the probate court’s jurisdiction is subject to its orders. For that court to decide on the property located there, the will needs to be probated in the other state. To handle property only in that particular state or nation, some persons may create a second will for each state or country where they own property.
To File Taxes
Because certain jurisdictions or nations offer better tax treatment than others, you might have many wills. However, your property abroad may be taxed in both the US and foreign countries if your estate plan is not carefully constructed. In addition, some nations impose a higher tax rate when the property is transferred to a resident of another nation. Therefore, making a separate will with better tax treatment could be an attempt to avoid paying higher tax rates.
Addendum to a Will
You might wish to add new instructions to your will after you write it, so you might want to use a second will to supplement the one you have drafted.
What Multiple Wills’ Risks?
If you don’t take caution, making many wills at once could jeopardize your entire estate plan. The following are some dangers of having more than one:
Your instructions can perplex your loved ones if you have many wills. For example, it might not be evident if a last will has been overruled (canceled or rejected) in favor of a new one. Moreover, if your loved ones read the choices together, they can find clauses that conflict with one another and quarrel over which will’s terms should apply. Additionally, if you designate different personal representatives in each well, they might be uncertain of their obligations.
- Multiple wills were filed with the court by the estate planning attorney.
A probate case is typically launched when your representative gives the court your original will. However, your representative or your loved ones may submit more than one will to the probate court if you have several choices. This may necessitate a special hearing in court to decide which will is legitimate, which would have added further delay, expense, and dispute that could have been easily avoided.
- You unintentionally revoke a will.
You might intend to add to a will or address property in another region. But you might end yourself doing the opposite. As a result, the probate court may ignore your prior wills and treat the most current will as the only legitimate one.
Alternatives for many wills person has in estate planning attorney?
You can probably achieve your estate planning objectives in other ways than by writing many wills. Several possibilities or ways are:
To create a global/international will
You might consider making an international will if you have property in several nations. This is recognized as legal in countries that have ratified the Uniform International Wills Act. The Act states that among the conditions for a legitimate international are:
- It eliminates the possessions of only one person.
- It’s written down in the presence of two witnesses and an attorney, and they sign a will.
- The will is signed in full at the conclusion.
- The will’s pages are all numbered and signed.
- A certificate with a choice states the conditions for creating and carrying out the will.